American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
China said on Saturday it strongly opposes Washington's decision to levy additional tariffs on $550 billion worth of Chinese goods and warned the United States of consequences...Politicsread more
The European Union will respond in kind if the U.S. imposes tariffs on France over digital tax plan, EU chief Donald Tusk told G-7.Technologyread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
The final week of August could be highly volatile as markets fret over the economy and the latest developments in trade wars.Market Insiderread more
Federal Reserve Vice Chair Richard Clarida said Friday that the global economy has deteriorated in the past month.Marketsread more
The latest escalation in the trade war ups the odds the economy will fall into recession and that the Fed will aggressively cut rates.Market Insiderread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
Recent trade friction between the two Asian powerhouses has morphed into a dispute with political implications that go far beyond the region.Asia Politicsread more
Even as cryptocurrencies are getting crushed, Amazon sees plenty of opportunity with blockchain technology.
The company said on Wednesday that it's introducing two new services, including a managed blockchain offering, to let Amazon Web Services customers set up "a scalable blockchain network with just a few clicks" that "automatically scales to meet the demands of thousands of applications running millions of transactions."
Blockchain is a software protocol that underpins cryptocurrencies like bitcoin. Also called distributed ledger technology, its potential has been compared to the internet — but the hype has outpaced reality. Outside of cryptocurrencies, few commercially viable products have been built on blockchain to date, and crypto prices have plunged, with bitcoin losing almost 70 percent of its value in 2018. Meanwhile, Cowen estimates it will take almost six years for blockchain to gain widespread adoption.
Amazon's new product will support two popular existing blockchain platforms — Ethereum and Hyperledger Fabric. Ethereum is a popular open-source building platform for developers, linked to the cryptocurrency ether, while corporate giants including IBM are currently building projects on Hyperledger.
"We don't build things for optics," AWS CEO Andy Jassy said on Wednesday at the company's re:Invent conference in Las Vegas. Jassy said AWS only spends resources on something when they "understand the problem" and said, "this is something that a lot of companies need."
Walmart recently became one of the first retailers to explain how it will be using the technology. The company said it would require lettuce suppliers to upload data about their foods to blockchain within a year.
Still, Jassy said that AWS is responding to demand from existing customers. He pointed to mortgages, health-care records, supply chain tracking and vehicle history records as common customer use cases.
In addition to the managed blockchain product, AWS announced Amazon Quantum Ledger Database, or QLDB, where customers can replicate a copy of their blockchain network activity.
Amazon already leverages Ethereum on its cloud network, and in May announced a partnership with start-up Kaleido to make it easier for customers to put their services on blockchain. Microsoft offers customers "blockchain as a service" on its Azure cloud.